Tower REI permitted for 46-unit mixed-use building in Bed-Stuy

Tower Real Estate Investments, on April 19, was given a permit for construction of a 46-unit, 36,302-square-foot mixed-use building at 1259 Bedford Avenue in Bedford-Stuyvesant, Brooklyn. Michael Reihanian through the entity Bedford Development USA, LLC filed the plans.

The permit was a plumbing permit. The developer received initial new building and foundation permits in February.

The plans, pre-filed on June 19, 2019, call for the construction of a 74-foot tall, seven-story mixed-use building.

The project is described in the filings as: proposed new seven-story building and cellar.

According to the plans, the ground floor of the building will have a residential lobby and commercial retail space. Floors two through six will each have eight dwelling units per floor, while the seventh floor will have five dwelling units. The building will also have recreation space on the roof and in the cellar.

Z Architecture is listed as the architect.

The property was acquired for $4.5 million on May 23, 2018.

Last year Armin Baratian through the Bedford Development USA, LLC signed a new construction loan agreement with Investors Bank valued at $19.5 million at 1263 Bedford Avenue and 1259 Bedford Avenue.

An estimated date of completion has not been released.

Direct link to Acris document. LINK

Direct link to DOB document. LINK